How we work
Why we believe in making a good, fair offer to borrowers in Switzerland – how we work, how we don't work and what the benefits are for you as a borrower.
Why we believe in making a good, fair offer to borrowers in Switzerland – how we work, how we don't work and what the benefits are for you as a borrower.
Lenders usually publish interest rates and general criteria. Whether a loan is granted, in what amount and on what terms, however, depends on many other factors. These risk criteria are not published to protect against fraud.
To compare several loan offers, a customer must submit loan applications to multiple providers. Depending on the lender, the effort is high and takes time.
Loan decisions are registered with the Central Office for Credit Information (ZEK). Around half of all applications are rejected. One or multiple loan rejections can affect the chances of approval in the future.
The risk criteria and conditions for granting a loan by providers are not transparent to the client. Lower interest rates are attractive for the customer, but generally mean stricter criteria and therefore a higher risk of rejection. Due to this challenging situation for the customer, a loan broker was founded within the Comparis-group in 2014 to provide a useful service for this problem.
As a loan broker, we are in the middle between you as a customer and several lenders.
In this way, we achieve an approval rate of over 80% for the applications we submit for our customers compared to around 50% approval rate for applications handed in to lenders directly.
Your advantages: We increase your chances of getting the loan you want and reduce avoidable ZEK entries.
Loan providers and brokers conclude contracts for cooperation. The lender pays the broker a part of the proceeds from the lending as a commission.
The loan broker itself may not charge any costs to the customer. This is illegal. In no case will there be a direct flow of money between the borrower and a broker. This applies without exception, including any kind of fees. The Consumer Credit Act (KKG) clearly states that all costs associated with the loan must be included in the annual percentage rate of charge. Anyone who (supposedly) advertises the brokerage of a loan but lists costs is therefore dubious. A corresponding note («we do not broker loans») can usually be found at the bottom of the website on the pages of such «loan providers».
Credaris as a loan broker takes over the preliminary check of your profile and your request for you as a customer, advises you transparently on your options and processes your loan application – if you decide to do so – up to the contract. The lender receives your application from Credaris and checks it according to their own criteria. The approval process usually takes a couple of days. If the contract has been signed legally by both parties and (in the case of consumer loans) the 14-day right of withdrawal has expired, the amount will be transferred to your account by the selected provider and the loan contract goes into effect.
Of course, we are also available to answer any questions and concerns you may have during the term of the contract.
We only pass on a loan application if, after careful examination, we are convinced with a solid degree of certainty that we will receive a positive decision for you as a customer. Despite many years of experience and care, we cannot guarantee a commitment for every application submitted.
If – for example, after the ZEK query – the bank has information that was not known to us, this is missing from the advice and preparation of your loan application: it is therefore important that you communicate all current obligations (such as leases, credit card balance or current loans) directly in a loan request. This applies particularly if negative events in your credit history could be stored about you. Rejections for such reasons are avoidable.
Through our work and preliminary clarifications, which we carry out with your support, we significantly increase the chance of approval. We make every effort to minimize rejections and avoid the corresponding ZEK entry.
Don't worry: in many cases, a single rejection does not make borrowing impossible.
If, on the other hand, you do not have the opportunity to obtain a loan, we will inform you of this immediately after your non-binding request. As far as possible in each individual case, we will provide you with information on the reasons why a loan is temporarily or generally impossible.
Our promise:
Why do lenders work with loan brokers such as Credaris?
A loan broker is an acquisition channel for the providers. The commission for the broker can be considered as marketing costs. As a broker, we also relieve the lender of administrative efforts.
A direct application to the loan provider leads to a query as well as an entry in the ZEK. Your application will thus be visible directly to all other providers. If the application is rejected, this will remain visible in the ZEK for two years. In most cases, you will not know the reason for the rejection.
This way we achieve high approval rates at attractive conditions and support you on the way to your loan and beyond.
Do you have a question? Get in touch, we're happy to assist.
Credaris Ltd.
Stauffacherstrasse 16
CH – 8004 Zurich
info@credaris.ch
+41 44 556 60 00
Mon – Fri from 9 a.m. to 6 p.m.
